Breaking news
Indian Armed Forces ask for changes in the Customs Act 42005163.
| 2016
|
|
|||
|
Defence & Security News - India
|
|||
|
|
|||
| Indian Armed Forces ask for changes in the Customs Act | |||
|
The Indian Armed Forces could face delays in procuring new items due to an amendment in the Customs Act, which removes blanket duty exemption for defence products. According to the latest amendment, specific projects, under production within the country, are exempted from duties.
|
|||
|
|
|||
 Indian-made Arjun Mk-I in MBT main battle tank in live demonsration at Defexpo 2016 defense exhibition in Goa, India |
|||
|
|
|||
|
According to Indian Media sources, that could possibly leave foreign companies and the Indian Armed Forces facing delays, in important procurement programmes, unless the government decides to amend the law once again. The latest amendment supports the local industry. However, with many manufacturing projects in cooperation with foreign defence industries still running, delays or potentially costs increases are possible. |
|||